Bengaluru-based CoreEL Technologies, a provider of advanced electronic systems and sub systems for the aerospace and defence sector, has raised $30 million in a Series B funding round led by ValueQuest Scale Fund, with participation from existing investor 360 ONE Asset.
The funding comes shortly after CoreEL’s acquisition of the aerospace and defence systems division of Lekha Wireless, a move that has significantly expanded its communications systems portfolio. The acquisition added proven wireless communication technologies, indigenous intellectual property, and specialised engineering talent, strengthening CoreEL’s capabilities in the military communications (MILCOM) segment.
Focus on Manufacturing, R&D and Large Defence Programmes
According to the company, the fresh capital will be deployed towards scaling manufacturing capacity, strengthening research and development, advancing product engineering, and supporting participation in large and complex aerospace and defence programmes in India and international markets.
Founded to address critical technology gaps in strategic electronics, CoreEL designs, develops, and manufactures high-end electronic system- and sub-system-level products for applications across radar, electronic warfare, avionics, and MILCOM. The company has delivered multiple mission-critical electronic solutions to strategic and commercial customers, including the Defence Research and Development Organisation (DRDO), defence public sector undertakings, and the Ministry of Defence (MoD).
Strengthening India’s Defence Electronics Ecosystem
CoreEL said its products have been deployed in next-generation avionics platforms, radars, missiles, electronic warfare systems, military communication networks, and sonar systems, supporting India’s push for indigenous defence capabilities. The company aims to develop some of the most advanced electronic systems for strategic aerospace and defence programmes, aligned with the government’s Atmanirbhar Bharat and defence indigenisation goals.
Existing investor 360 ONE Asset manages over $10 billion in assets under management across listed markets and alternatives, with a private markets AUM of $5 billion. Its venture capital and private equity platform oversees $3.3 billion in AUM across 89 portfolio companies.
The Series B funding positions CoreEL Technologies to scale its operations and deepen its role as a key domestic supplier of advanced defence electronics, at a time when demand for indigenous aerospace and defence technologies is accelerating.
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